Cytokinetics, Incorporated $CYTK Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in Cytokinetics, Incorporated (NASDAQ:CYTK) by 27.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,434 shares of the biopharmaceutical company’s stock after purchasing an additional 10,775 shares during the period. Intech Investment Management LLC’s holdings in Cytokinetics were worth $3,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Cytokinetics by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,048,131 shares of the biopharmaceutical company’s stock valued at $765,538,000 after purchasing an additional 191,336 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of Cytokinetics by 15.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 182,131 shares of the biopharmaceutical company’s stock valued at $10,010,000 after acquiring an additional 24,345 shares during the last quarter. Knott David M Jr purchased a new position in shares of Cytokinetics in the 3rd quarter valued at about $1,649,000. Boxer Capital Management LLC purchased a new position in shares of Cytokinetics in the 3rd quarter valued at about $10,992,000. Finally, TD Asset Management Inc increased its holdings in shares of Cytokinetics by 23.4% in the 3rd quarter. TD Asset Management Inc now owns 671,780 shares of the biopharmaceutical company’s stock valued at $36,921,000 after acquiring an additional 127,488 shares during the last quarter.

Cytokinetics Stock Down 4.0%

NASDAQ:CYTK opened at $73.68 on Tuesday. The stock’s 50 day moving average price is $69.17 and its 200 day moving average price is $65.80. The company has a market capitalization of $9.17 billion, a PE ratio of -10.77 and a beta of 0.42. Cytokinetics, Incorporated has a 52-week low of $30.55 and a 52-week high of $80.20.

Cytokinetics (NASDAQ:CYTK) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.67). The company had revenue of $19.36 million for the quarter, compared to analyst estimates of $8.52 million. During the same period in the previous year, the business posted ($1.36) earnings per share. The firm’s revenue was up 1112.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cytokinetics, Incorporated will post -6.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Needham & Company LLC increased their price objective on Cytokinetics from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Citizens Jmp increased their price objective on Cytokinetics from $88.00 to $96.00 and gave the company a “market outperform” rating in a report on Wednesday, February 25th. Royal Bank Of Canada increased their price objective on Cytokinetics from $101.00 to $119.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Leerink Partners reiterated an “outperform” rating on shares of Cytokinetics in a report on Tuesday, March 10th. Finally, Wall Street Zen upgraded Cytokinetics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.30.

Insider Activity at Cytokinetics

In other Cytokinetics news, Director B Lynne Parshall sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $74.08, for a total transaction of $370,400.00. Following the completion of the sale, the director directly owned 15,784 shares of the company’s stock, valued at approximately $1,169,278.72. This trade represents a 24.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Edward M. Md Kaye sold 2,933 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $76.09, for a total value of $223,171.97. Following the sale, the director directly owned 10,283 shares of the company’s stock, valued at $782,433.47. The trade was a 22.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 207,909 shares of company stock worth $13,578,616 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Cytokinetics Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.